Summary:
LIC's listed equity portfolio is valued at approximately ₹16.52 lakh crore across 294 companies. Q2FY27 disclosures indicate increased holdings in Power Grid, REC and Britannia, while a comprehensive company-wise record of quarterly purchases and sales remains unavailable.
Life Insurance Corporation of India (NSE: LICI) still remains one of the largest institutional investors in Indian equities with exposure in banking, technology, energy, automobiles and consumer businesses.
The changes in its portfolio are interesting, because even small changes can involve large sums of money. Recent disclosures show buying in selected banking, power and consumer companies and changes in the makeup of its wider equity holdings.
What Is The Size Of LIC’s Equity Portfolio?
The public shareholding data currently cover LIC’s investments in about 294 listed companies, with an estimated portfolio market value of ₹16.52 lakh crore.
This is more than the ₹15.5 lakh crore mentioned in the original headline.
Portfolio values are subject to change based on share prices, purchases, sales and the coverage of individual databases. Hence, these numbers should be considered as outdated estimates and not a static investment balance.
Banking continues to be a major part of LIC’s listed equity exposure.
The portfolio also holds significant stakes in information technology, diversified businesses, automobiles and other sectors.
Some of its prime holdings are Reliance Industries, State Bank of India, Larsen & Toubro, ITC, HDFC Bank and Bharti Airtel.
What Stocks Did LIC Buy in Q2FY27?
In the July-September quarter of 2026, a number of companies disclosed increases in LIC’s holdings.
| Company | Date | Transaction reported |
| Power Grid | Acquired 19.09 lakh shares | August 17, 2026 |
| REC | Bought 9.93 lakh shares | September 7, 2026 |
| Britannia Industries | 16-Sep-2026 | Purchase of 53,260 shares |
These transactions took LIC’s holding above the applicable 5% disclosure threshold in the respective companies.
The purchases are across a variety of sectors including electricity transmission, power financing and consumer goods.
However, these are selected reportable transactions and not a comprehensive record of LIC’s activity during Q2FY27.
Other purchases may not have needed separate shareholding disclosures.
What Stocks Did LIC Sell?
A complete list of purchases and sales made by LIC for the September quarter company-wise, independently verified, was not established from the public disclosures available.
Its last June quarter portfolio had cuts to a number of listed companies for context.
These included holdings in Coal India, ONGC, Nestle India, Bharat Forge and others.
These changes are for Q1FY27 not Q2FY27 and should not be shown as September quarter deals.
There are many reasons for a reduction in portfolio including changes in asset allocation, liquidity requirements and investment rebalancing.
Also, a declining ownership percentage does not mean the shares are sold, because new equity issuance can dilute an existing stake.
Why LIC's Portfolio Matters
LIC is an organization which collects funds from the insurance policy holders and invests it. These are a big pool of long term assets.
Its investment decisions must take into account policy liabilities, liquidity, regulatory requirements and asset-liability management.
This distinguishes its investment strategy from that of a short term market participant.
LIC’s own financial performance remained positive in H1FY27.
Profit after tax grew 21.52% to ₹25,568 crore. Total premium income rose 11.64% to ₹2,74,269 crore.
Its total assets under management as of September 30, 2026 stood at around ₹59.61 lakh crore.
This figure includes a much wider set of investments than publicly traded stocks.
Disclosures from Q2, when available, indicated more investment in select power and consumer companies but didn’t provide a full picture of buying and selling for the quarter.
More changes in its listed holdings will be evident from company shareholding disclosures and subsequent investment reporting.
